Archive for June, 2010
CBS Money Watch Highlights Peer to Peer Lending Industry
CBS’ Money Watch’s Farnoosh Torabi recently commented on the peer to peer lending industry in her “You’re So Money” column last week. Torabi initially started out as a skeptic of Lending Club and Prosper Marketplace, writing, “I’ve been writing about peer-to-peer lending for quite some time and I admit I’ve always been a bit skeptical. [...]
Lending Club Offering Investment Bonus Through July 5th
Lending Club, a company which offers a peer to peer lending service, is offering investors a bonus of up to $300 for investors that add funds into their account by July 5th. In an email sent to investors, Lending Club wrote “You can receive up to a $300 Cash Bonus on newly load funds you [...]
Apple Sells 3 Million iPads In Less Than 3 Months
Apple (NSDQ: APPL) announced Tuesday that it has sold 3 million iPads as of June 21, just 80 days after the product was introduced in the United States. The iPad allows users to browse the web, watch videos, listen to music, read and send emails, read e-books, along with many other features. The company rolled [...]
JP Morgan Chase (NYSE: JPM) Shuffles Executive Team
JP Morgan Chase (NYSE: JPM) Chief Executive Office Jamie Dimon shuffled his executive management team on Tuesday. Dimon promoted one executive into a newly created role, while rotating two more executives into existing positions. Doug Braunstein, currently head of investing banking at JP Morgan, has been named the chief financial officer. He replaces Michael [...]
Bank of America Corp (NYSE: BAC) to Launch Discount Brokerage
Bank of America Corp (NYSE: BAC)’s Merrill Lynch division plans to launch a new discount online brokerage aimed at new and young investors today. The service, known as Merrill Edge, hopes to compete with existing online trading companies such as TD Ameritrade, E-Trade Financial Corp. and Charles Schwab Corp. The service will charge customers $8.95 [...]
Pfizer and Adolor Drug to Treat Osteoarthritis Fails to Beat Placebo
Adolor Corp said that two of its new drug candidates that it was developing alongside Pfizer (NYSE: PFE) to treat osteoarthritis did not perform better than a placebo in a midstage clinical phase-II trial involving 400 patients. “We obviously are disappointed with the results of this study,” said Dr. Eliseo O. Salinas, senior vice president [...]
Citigroup, Inc (NYSE: C) to Boost Korean Braches by 20%
Citigroup, Inc (NYSE: C) will expand its presence in South Korea by increasing the number of branches that it has by 20% according to a statement made by a senior official for Citigroup Korea on Friday. Citigroup Korea Inc. Chairman Ha Yung-ku made the announcement when speaking with reporters, but did not provide a specific [...]
Bank of America Corp (NYSE: BAC) Announces Quarterly Dividend
Bank of America Corp (NYSE: BAC) announced a regular quarterly dividend on June 17th. The company’s Board of Directors authorized a regular quarterly dividend of $18.125 per share on the 7.25 percent Non-Cumulative Perpetual Convertible Preferred Stock, Series L. The dividend is payable on July 30, 2010 to shareholders of record as of July 1, [...]
Morgan Stanley (NYSE: MS) Hires Citigroup (NYSE: C) Equity Analyst
Morgan Stanley (NYSE: MS) has hired Citigroup, Inc (NYSE: C)’s Kimberly Greenberger as a managing director and senior analysts to cover specialty stores. Greenberger had worked at Citigroup since 2004 and was the second-ranked equity analyst covering retailers in Institutional Investor’s 2009 survey. She had covered businesses including Abercrombie & Fitch Co., American Eagle Outfitters [...]
Pfizer (NYSE: PFE) Arthritis Drug Performs Significantly Better than Placebo in Knee Pain
A new biotech arthritis drug being developed by Pfizer (NYSE: PFE) was found to be significantly better at reducing knee pain than a placebo in a late-stage trial, according to data shown on Friday. The drug, known as tanezumab, is administered by infusion every eight weeks and works by blocking a protein called “nerve growth [...]
Ford (NYSE: F) to Provide Free Maintenance to New Lincoln Owners
Ford Motor Co. (NYSE: F) said that it will provide free maintenance to customers that purchase or lease a new Lincoln vehicle this summer. The news of the new offer comes on the heels of an announcement that Ford will expand the brand’s line-up as it winds down its Mercury brand. The new offer, which [...]
Citigroup, Inc (NYSE: C) To Sell Canadian MasterCard Unit
Citigroup, Inc (NYSE: C) announced on Monday that it had signed an agreement to sell its Canadian MasterCard business to Canadian Imperial Bank of Commerce. The terms of the deal were not disclosed, however, the deal will reduce the amount of assets in Citigroup’s “Citi Holdings” division by about $1.93 billion US. Since the financial [...]
Fannie Mae (NYSE: FNM), Freddie Mac (NYSE: FRE) Shares To Be Delisted
Shares of Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) will be delisted from the New York Stock Exchange for failure to meet minimum exchange requirements. Shares of both government controlled companies tumbled more than 40 percent on the news. The Federal Housing Authority, which is in charge of regulating Fannie Mae and Freddie [...]
Verizon to Purchase 500 CNG Ford Vehicles (VZ, F)
Ford Motor Co. (NYSE: F) announced on Friday that Verizon Communications (NYSE: VZ) will buy 501 Ford E-250 cargo vans that have engines which burn compressed natural gas. The telecommunications company plans on using 2010 Ford E-250 cargo vans which are expected to reduce emissions by an estimated 1.62 metric tons of carbon dioxide each [...]
Bank of America Corp (NYSE: BAC) Fined $195,000 for Violating Missouri Telemarketing Laws
Bank of America Corp (NYSE: BAC) has agreed to pay a fine of $195,000 in order to settle a suit from the Missouri attorney general’s office to settle allegations that the Charlotte-based bank violated telemarketing laws. Missouri Attorney General Chris Koster said that Bank of America Corp (NYSE: BAC) and its affiliates have sent unwanted [...]
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